Julian Davies

Work Department

Banking, capital markets.

Position

Founder of Linklatersâ Structured Finance Group and global securitisation practice. Leads Linklatersâ Project Bond practice and is Head of Linklatersâ water sector group. Currently specialises in Structured Utility Bonds (SUBs), whole-business securitisations (WBS), infrastructure acquisition finance and Project Bonds. Transactions include acting as the lead partner on the Glas (Welsh Water), Anglian Water, Southern Water, Thames Water and Yorkshire Water SUBs, as well as being the lead finance partner on the Electricity North West, Peel Ports and Manchester Airport Groupâs WBSs. Has been the lead partner on numerous completed Project Bonds, specialising in multi-source bank/bond financing of projects, including the recent M8 deferred-settlement project bond. Specialises in the capital markets financing of renewable energy (solar and wind), having led the Breeze 2; Solaris; and Andromeda renewables project securitisations. Acted on the successful acquisition financings of Gassled, TIGF and Phoenix Natural Gas. Extensive experience of monoline-wrapped transactions. Prior to 1997, was a specialist in international finance and capital markets work with 11 yearsâ experience, of which almost five years were spent in Hong Kong. Considerable experience in all types of securities issues, swaps and banking transactions.

Education

London: Finance

Securitisation

Linklaters LLPÂ is 'excellent â probably the most sensible, pragmatic and commercial secured financing team on the street'. The firm is widely regarded as a leader in the whole-business securitisation market; it played a part in all of the utility WBS deals in the UK - includingÂ Welsh Water, Anglian Water and Peel Ports - and continues to act in all of their WBS financings. The practice also handles large and complex transactions in other market sectors, including RMBS. It acted for a consortium of six UK financial institutions, including Barclays Bank and HSBC, in the ÂŁ11.8bn Ripon RMBS, which is backed byÂ mortgage loans originated by Bradford & Bingley. Adam FogartyÂ led that deal. Julian DaviesÂ acted for the British Broadcasting Corporation in the Juturna Broadcasting house CMBS securitisation.Â Practice head Andrew VickeryÂ and partner James Harbach, who handles securitisation, structured finance, project and utility bonds and private or state-structured guaranteed debt offerings, are 'high-quality and experienced practitioners for more complex and innovative trades'. Also recommended areÂ Mark Nuttall, who focuses on the infrastructure and utilities sectors, and also leads the firmâs social finance practice; Alex Shopov, who advised Essar Oil on issuance under itsÂ refined petroleum trade receivables-backed commercial paper conduit securitisation; newly promoted partner Reza Taylor, whoÂ has 'excellent commercial understanding of the market and is pragmatic, solution-focused, friendly and professional'; and William Trotman.

London: Projects, energy and natural resources

Water

The water offering atÂ Linklaters LLPÂ covers the full gamut of corporate and M&A, financing, regulatory and competition issues in the sector.Â Reza TaylorÂ was recently promoted to partner within the finance department and is part of the team advising each of the seven securitised UK water companies on CayCo onshoring, which involves the replacement of Cayman-incorporated companies in their finance groups with English companies. Also a finance expert,Â Mark NuttallÂ recently teamed up with managing associateÂ Elisabeth JohnsonÂ to counsel Thames Water with regards to its debut issuance into the Canadian bond market. Significant recent corporate highlights include assisting 3i Infrastructure with the sale of its stake in Anglian Water to a consortium of Dalmore Capital and GLIL Infrastructure, and the sale of Southern Water's non-household retail business to Business Stream - a subsidiary of Scottish Water.Â Julian DaviesÂ heads the practice whileÂ Michael CuttingÂ leads the regulatory advice.

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